Coinbase announced on Tuesday, January 14, that it is currently investigating issues regarding delayed transactions of Ripple (XRP) on its platform. The cryptocurrency exchange acknowledged the problem in an incident report on its status page, noting, “We are aware that some users may be experiencing delayed sends for Ripple (XRP). Buys, Sells and Fiat withdrawals/deposits are not affected. We are investigating this issue and will provide an update shortly.”
This incident comes after Coinbase previously reported on January 10 that several users faced delays in sending and receiving Stellar (XLM), which was resolved quickly within 90 minutes. On January 9, other users encountered latency issues affecting various functionality on the platform, including buys, sells, and sends. That issue was also remedied within two hours.
In addition to these technical issues, Coinbase is navigating regulatory challenges, as reported on January 9. The exchange stated that it may be required to share customer data requested by the Commodity Futures Trading Commission (CFTC), which includes information regarding user interactions with prediction market firm Polymarket.
Meanwhile, in positive developments, Triple-A, a cryptocurrency payments solution provider, announced a new integration with Coinbase that allows users to make payments to select merchants within the Triple-A network. This integration is intended to enhance the convenience for users and broaden the adoption of cryptocurrency payments.
Moreover, Coinbase has also enhanced its subscription offerings with the upgrade of its Coinbase One program, introducing a new tier called Coinbase One Premium. This move reflects the company’s ongoing commitment to cater to different types of traders, with membership in Coinbase One reaching 600,000 across 42 countries.
Summary: Coinbase is addressing transaction delay issues with Ripple (XRP) while navigating regulatory data requests. Despite technical challenges, the company is enhancing its services through partnerships and subscription upgrades, showcasing its commitment to improving the user experience in the evolving cryptocurrency landscape. This indicates a positive outlook for Coinbase as it continues to adapt and innovate in a dynamic market.